Guideline Value for Muthu Mariamman Koil Street

Muthu Mariamman Koil Street guideline value

The current guideline value of Muthu Mariamman Koil Street is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Mevaloorkuppam B village and falls under the Sriperumpudur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Muthu Mariamman Koil Street has changed

The guideline value for Muthu Mariamman Koil Street has undergone significant changes over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 1,000 per sq.ft, while the most recent 2024 revision has reduced it to Rs 500 per sq.ft, reflecting a decrease of 50%.

This substantial drop in the guideline value from 2023 to 2024 is noteworthy. The current value of Rs 500 per sq.ft is now aligned with the updated rates for other streets in the area, making it an important consideration for potential buyers and sellers.

Guideline values in Mevaloorkuppam B

In Mevaloorkuppam B, there are 84 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 6,200 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Muthu Mariamman Koil Street above this median.

• Nadu Street: Rs 100 per sq.ft (2024)
• Moorthiyar Nagar: Rs 100 per sq.ft (2024)
• Nayappakkam Salai: Rs 500 per sq.ft (2024)
• Nehru Cross Street: Rs 100 per sq.ft (2024)
• Nehru Street: Rs 300 per sq.ft (2024)
• Mevaloorkuppam Road(Nayapakkam Road): Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Muthu Mariamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Muthu Mariamman Koil Street?

The Sub Registrar Office that covers Muthu Mariamman Koil Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mevaloorkuppam B

The guideline value plays a crucial role in the registration process when buying or selling property in Mevaloorkuppam B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with the legal requirements for registration. This value is essential for calculating the costs involved in the transaction, which can impact the overall financial planning for both parties.

Frequently asked questions

What is the current guideline value of Muthu Mariamman Koil Street?

The current guideline value of Muthu Mariamman Koil Street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Muthu Mariamman Koil Street has changed significantly, with the 2023 revision at Rs 1,000 per sq.ft and the 2024 revision reducing it to Rs 500 per sq.ft, a decrease of 50%.

What is the median guideline value for streets in Mevaloorkuppam B?

The median guideline value for streets in Mevaloorkuppam B is Rs 400 per sq.ft, with Muthu Mariamman Koil Street's value being above this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

Where is the Sub Registrar Office for Muthu Mariamman Koil Street located?

The Sub Registrar Office for Muthu Mariamman Koil Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.